LTA or LTC exemption for employee in new tax regime

Ask the Community Income Tax
1

Hi,

For someone in the new tax regime, do they get to claim LTA or LTC?

1 Like
2

Hi Namita,

Under the new tax regime, you can claim for:

Daily allowance
Transport allowances for a specially-abled person
Conveyance allowance incurred as part of the employment
The compensation received to meet the cost of travel on tour/transfer

What you cannot claim under the new tax system:

Leave Travel Allowance
House Rent Allowance
Minor child income allowance
Helper allowance
Children education allowance
Sec 10(14) - Other special allowances
Sec 24 - Interest on housing loan on the self-occupied property or vacant property
The standard deduction, professional tax, and entertainment allowance on salaries
Deductions under Chapter VI-A such as 80C,80D, 80E, etc., except Section 80CCD(2) and 80JJAA
Deduction from family pension income

Regards,
Bhuvana Anand

1 Like
3

Hi,

No, in new tax regime he/she cannot get exemption for LTA or LTC.

Regards
Arpana

1 Like